According to Bloomberg, people familiar with the matter revealed that ByteDance Ltd.
It is raising up to US$600 million for its automotive information service and trading platform, DCI.
, The above-mentioned person familiar with the matter said that U.S. private equity firms General Atlantic, Red Shirts, KKR & Co.
and Gaorong Ventures were co-investors in this round of financing, which valued Kedi at nearly US$3 billion.
In response to the above reports, ByteDance and Gao Rong Ventures did not respond to Bloomberg’s request for comment, and spokespersons for Pan Atlantic Capital Group, KKR and Sequoia all declined to comment.
Photo source: ByteDance.
It is reported that Understand Car was originally the car channel of today’s headlines.
It was later incubated by the commercialization department of ByteDance and launched an independent App in 2017.
In January 2018, Today’s Headline Car Channel was officially renamed Understand Car Di Channel as a car information, transaction and service platform.
According to a report by Quest Mobile in June this year, the monthly active users of Understanding Car are approximately 35.
7 million.
Born out of ByteDance, the content and gameplay of Understanding Car Emperor continue the young and novel style of ByteDance, an Internet company.
In addition, it also enjoys the support of traffic, funds and other resources provided by ByteDance.
At the beginning of this year, it was reported that ByteDance would spin off Kedi as an independent company, aiming to support Kedi’s continued growth and business expansion.
At that time, some industry insiders analyzed that an independent company was established for listing.
Now, ByteDance has raised US$600 million for KIDER, or is also preparing for its IPO.
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